Finance & Capital Management

Dallas -- Zale Corp reported a narrower third-quarter loss on Wednesday.

Zale’s net loss narrowed by about a half to $4.5 million in the third quarter ended April 30, from $9 million a year ago.

Revenues for the quarter ended April 30, 2012 rose 8.1% to $445 million, compared with $412 million in the same period last year. Same-store sales increased 8%.

TOPEKA, Kan. — Net sales at Collective Brands during the first quarter increased 5% to $912.1 million over the same period last year, driven in part by an 8.1% increase in comparable-store sales. The company reported net income of $33.2 million, or 54 cents per share, compared with $26.4 million, or 42 cents per share, in the first quarter of 2011.

Indianapolis -- Hhgregg Inc.'s fiscal fourth-quarter earnings jumped as the chain collected $39.6 million in life insurance proceeds due to the death of executive chairman and former CEO Jerry W. Throgmartin.

Throgmartin, who died Jan. 22 at age 57, served as chairman and CEO of Hhgregg from 2003 to 2009 and led it through a 2007 initial public offering of stock. Hhgregg said Wednesday it collected the proceeds from a "key man" life insurance policy.

Minneapolis -- Best Buy said its profit for the first quarter fell 26% amid higher restructuring charges and lower comparable store sales. However, adjusted earnings topped analysts' expectations and the company maintained its earnings outlook for fiscal 2013.

Best Buy said its profit fell to $158 million in the quarter ended May 5, from $212 million in the year-ago period.

Revenue rose 2% to $11.61 billion, helped by an extra week, and sales of tablets and mobile phones. International sales fell on weakness in China and Europe.

First it was the California State Teachers' Retirement System (CalSTRS) , now another California pension group (CalPERS) is looking to influence the Wal-Mart Stores board by withholding votes for nine members, according to Reuters. Read more.

Hingham, Mass. -- Talbots Inc. said is extending its talks with Sycamore Partners about an acquisition offer. It is the second time the chain has extended the talks.

Talbots has extended the period of time during which it will talk solely with the private equity firm about its $211 million takeover offer until Thursday.

The first time Talbots extended the exclusivity period was a week ago, when it announced that the talks would continue until Wednesday.

PHOENIX — Earnings shot up 39% to 85 cents per share to 61 cents per share at PetSmart during the first quarter as the company continues to dominate the pet retail space. Net income totaled $95 million in the first quarter of 2012, compared with $71 million in the first quarter of 2011.

Blue Bell, Pa. -- PDS, a developer of human resource, benefits, recruiting, and payroll systems, announced that convenience store operator Wawa has gone live with PDS’ Vista HRMS 4.1 application. The chain has been a customer of PDS since 1987.